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The imaginary nepotism that drives Carsales global growth

The long-term approach of Carsales and its CEO Cameron McIntyre has delivered big gains for investors. He reveals his secret to staying strategic. 

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Cameron McIntyre, the chief executive of Carsales, says there are plenty of similarities between the car markets of Australia and Brazil, where the $8.7 billion ASX group has just increased its stake in local online classifieds leader, Webmotors.

But there are a few differences, too. In a country where personal safety can be a little dicey, mum and dad sellers are reluctant to hand out their home address to buyers. And where Aussie car owners might pimp their ride with a new sound system or mag wheels, Brazilians have other priorities.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/the-imaginary-nepotism-that-drives-carsales-global-growth-20230326-p5cvay